THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Years ended December 31, 2017 and 2016 __________
Temporarily restricted net assets Controlling
Unrestricted net assets
Net assets
Controlling
Noncontrolling
Total
Total
Beginning balance, January 1, 2016
$
42,411,308
$
40,073,694
$
82,485,002
$
299,763
$
82,784,765
Capital contributions from noncontrolling interests, net of syndication costs
-
6,391,478
6,391,478
-
6,391,478
Excess of expenses over revenue attributable to noncontrolling interests
-
(5,552,097)
(5,552,097)
-
(5,552,097)
Excess of expenses over revenue attributable to the Organization
(4,037,049)
-
(4,037,049)
(163,263)
(4,200,312)
Ending balance, December 31, 2016
38,374,259
40,913,075
79,287,334
136,500
79,423,834
Transfers in
-
(54,316,992)
(54,316,992)
-
(54,316,992)
Transfer of net assets
(14,740,737)
14,740,737
-
-
-
Capital contributions from noncontrolling interests, net of syndication costs
-
28,340,587
28,340,587
-
28,340,587
Excess of expenses over revenue attributable to noncontrolling interests
-
(7,252,979)
(7,252,979)
-
(7,252,979)
Excess of revenue over expenses (expenses over revenue) attributable to the Organization
31,902,390
-
31,902,390
(77,804)
31,824,586
Ending balance, December 31, 2017
$
55,535,912
$
22,424,428
$
77,960,340
$
58,696
$
78,019,036
See notes to consolidated financial statements
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